Union Minister of Commerce and Industry, Mr. Piyush Goyal, announced on September 4, 2025, that India’s exports for the current financial year (FY26) are expected to surpass the levels recorded in FY25. This growth, he explained, will be driven by government initiatives to diversify both markets and product offerings. Industry players have pledged to pass on the advantages of recent Goods and Services Tax (GST) rate reductions to consumers, which is expected to lower prices, stimulate demand, and strengthen manufacturing output.
Mr. Goyal highlighted that India is proactively exploring new trade avenues despite challenges such as the 50% tariffs imposed by the United States on Indian goods. New markets include seafood exports to the United Arab Emirates and poultry shipments to Singapore. These efforts are aimed at mitigating external pressures and expanding India’s global trade footprint.
A key component of this growth strategy is the GST reform package. The measures include faster tax refunds for exporters, provisional relief under the inverted duty structure, and rationalized rates across multiple sectors. Collectively, these steps are designed to ease liquidity constraints, improve supply chain efficiency, and support Micro, Small, and Medium Enterprises (MSMEs). This, in turn, is expected to enhance export competitiveness while reducing inflationary pressures on essential goods.
Commerce Secretary Mr. Sunil Barthwal emphasized that the rationalisation of GST marks a decisive move toward building an Atmanirbhar Bharat. By strengthening domestic manufacturing and supporting long-term sustainable growth, these reforms are anticipated to create a more resilient trade environment.
Overall, the combination of market diversification, GST reforms, and proactive industry measures positions India to achieve record export levels in FY26. Analysts predict that the cumulative effect of lower tax burdens, streamlined refund processes, and access to new international markets will not only boost India’s trade numbers but also accelerate domestic economic growth and reinforce India’s role in global supply chains.
